Student Loan Forgiveness –
Over 60% of students cannot find work in the field of their major upon graduation!
If you have a student loan you can’t pay off, research possible options for forgiveness, such as:
Bankruptcy of Student Loans
A federal bankruptcy court may discharge your federal student loans, but only under extraordinary circumstances. You must prove to the court that paying the student loan amount represents an undue hardship on yourself or your family.
A bankruptcy judge uses three criteria to discharge the loan, including the inability to maintain a minimal standard of living with the loan, evidence that the hardship may continue for a long period of time over the life of the loan and good-faith efforts to make payments for five years previous to the bankruptcy. You must prove to the court that you meet all three criteria, and the court must agree with your assertions to discharge the loans in bankruptcy.
Obama Student Loan Foregiveness Program